Global Orphan Drug Rare Disease Market Clinical Trials Forecast 2028
• Clinical Insight On More Than 400 Marketed Orphan Drugs
• Clinical Insight On More Than 1300 Orphan Drugs in Clinical Trials
• Orphan Designated Drug Clinical Status by Indication & Country
• Global Market Opportunity More Than USD 350 Billion
• Market Exclusivity & Patent Protection Criteria for Orphan Drugs
• Global & Regional Orphan Drug Market Sales Opportunity
• Orphan Drug Reimbursement Policy
For Report Sample Contact email@example.com
An orphan drug is a pharmaceutical product which is utilized in the diagnosis, prevention, and treatment of rare and serious diseases. These diseases are distinct from other diseases in that they have a very low prevalence rate relative to other diseases, and so are purchased by a very tiny patient population. In past decade, rare diseases have gained interest in the pharmaceutical market as government provide incentives for pharmaceutical and biotechnology companies to develop new drugs indicated for the treatment of rare diseases. The increased interest is also a result of scientific and technological advances in genetic, molecular, and biochemical researches to reveal the pathophysiology of rare diseases.
Currently, multiple of orphan drugs have entered the global market which are indicated for wide range of rare diseases including ALS (Lou Gehrig’s disease), Huntington’s disease, muscular dystrophy, Tourette syndrome, and myoclonus, and several others. Increasing demand for orphan drugs due to increasing prevalence of life-threatening or serious diseases or disorders that are rare is expected to boost growth of the global orphan drugs market over the forecast period. As per our analysis, there are about 7,000 rare diseases globally which require unmet medical needs, which will drive the research and development in this sector.
The global orphan drug market is eminently competitive and fragmented in nature. There are several players in the market and a pool of new players is expected to enter the market during the forecast period. The prominent players in the market include GlaxoSmith Kline, Pfizer, Novartis, Celegene, Eli Lilly, Merck, and Takeda Pharmaceuticals. These leading players are focusing on gaining stronger foothold by investing in research and development in drug development area and rapid product launches in the market. For instance, US FDA recently granted orphan drug designation to CT120 for the management of acute lymphoblastic leukemia. CT120 is fully human CD19/CD22 dual-targeted chimeric antigen receptor (CAR)-T cell therapy developed by IASO Biotherapeutics.
High cost of orphan drugs, risks associated with orphan drugs and prolong timeline for product development is expected to hamper growth of the global orphan drugs market. Nonetheless, regardless of the constraints restraining the growth of market, the rising research and development by the leading players and governments initiatives to support the development of drugs is projected to expand the global orphan drugs market in the upcoming years. For instance, Europe Union has implemented some policies including Italy’s AIFA 5% Fund, Belgium’s Special Solidarity Fund, and France’s Temporary Authorization to boost their development. In addition, Asia-pacific countries including China, Japan, South Korea, and Taiwan provide incentives such as tax credits and subsidies to both the patients as well as the pharmaceutical companies. These policies in various countries around the world have evolved the market in last few years.
The global orphan drug market is expected to surpass US$ 350 Billion by 2028. This is mainly attributed to large number of clinical trials, rising geriatric population, and increasing investment in this sector. US currently dominate the market for orphan drugs and is expected to continue its stronghold for a few more years. One of the reasons for market growth is that in the United States, a drug designated orphan drug status receives seven years of marketing exclusivity upon FDA approval for a specific indication, tax credits, and user fee waiver. In addition, rise in prevalence of rare diseases and increasing awareness among the population will also boost the growth of market in this region. Moreover, Asia Pacific is expected to witness robust growth in the global orphan drugs market due to increasing prevalence of genetic diseases and increasing population in this region.
Kuick Research is a market research and analytics company that provides targeted information for critical decisions at business, product and service levels. We are quick, predictive and known by the recommendations we have made in the past. Our result-oriented research methodology offers understanding of multiple issues in a short period of time and gives us the capability to keep you full with loads of practical ideas. By translating research answers into strategic insight and direction, we not only rate the success potential of your products and/or services, but also help you identify the opportunities for growth in new demographies and find ways to beat competition.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Orphan Drug Rare Disease Market Clinical Trials Forecast 2028 here
News-ID: 2509224 • Views: 289
More Releases from Kuick Resarch
Lumakras Drug Clinical Insight and Sales Forecast 2026
"Lumakras Drug Clinical Insight and Sales Forecast 2026" Report Highlights: * NSCLC Targeting Lumakras Market Opportunity (US$ Million) * Colorectal Cancer Targeting Lumakras Market Opportunity (US$ Million) * Pharmacokinetics of Lumakras (Sotorasib) * Dosage, Patent and Price Analysis * Lumakras Ongoing Clinical Trials * Global KRAS Protein Inhibitors Clinical Trials Download Report: https://www.kuickresearch.com/report-lumakras-sotorasib-sales-forecast-fda-approved-kras-inhibitor-clinical-trials-non-small-cell-lung-cancer-nslc-g12c-mutation-c30h30f2n6o3-ras-gtpase The rising burden of cancer and the increasing cancer mortality rates possesses an unmet need for the development of novel therapies in the management
Global EZH2 Inhibitor Market Opportunity, Sales and Clinical Trials Insight 2026
"Global EZH2 Inhibitor Market Opportunity, Sales and Clinical Trials Insight 2026" Report Highlights: * Global EZH2 Inhibitor Market Opportunity > US$ 1.2 Billion by 2026 * Tazverik (Tazemetostat) First Approved EZH2 Inhibitor Drug * Dosage, Price and Sales Analysis of Tazverik * Tazverik Sales Opportunity > US$ 900 Million by 2026 * Tazverik Sales Forecast 2021 Till 2026 * EZH2 Inhibitor Clinical Pipeline Overview By Company, Indication and Phase * EZH2 Inhibitor in Clinical Trials: 7 Drugs Download
Global Bispecific Antibody Market Opportunity, Drug Sales, Price and Clinical Tr …
"Global Bispecific Antibody Market Opportunity, Drug Sales, Price and Clinical Trials Insight 2028" Report Highlights: * Global Bispecific Antibody Market Opportunity: > US$ 20 Billion * Global Bispecific Antibody Market Growth Rate: 100% CAGR (2016 -2021) * Approved Bispecific Antibodies In Market: 4 Antibodies * Detailed Market Sales and Trends Insight Till 2028 * Quarterly and Yearly Sales Insight Of Approved Antibodies Till Q1 2022 * Global and Regional Market Analysis * Approved Drug Sales
Global Fibroblast Growth Factor Receptor Inhibitor Drug Market Opportunity and C …
"Global Fibroblast Growth Factor Receptor Inhibitor Drug Market Opportunity and Clinical Trials Insight 2026" Report Highlights: * Global FGFR Inhibitors Market Opportunity: > USD 4 Billion by 2026 * Role of FGFR Inhibitors in Cancer Therapy * Global FGFR Market Assessment (US$) by Region and Cancer Type Clinical and Sales Insight on Approved FGFR Inhibitors: 3 (Belvesra, Pemazyre and Truseltiq) * Dosage and Drug Price Insight on Approved FGFR Inhibitors * Comprehensive Clinical Trials Insight
More Releases for Orphan
FDA grants orphan drug status to Vicore
US Food and Drug Administration has awarded Vicore Pharmaceuticals with orphan Drug designation for the treatment of Idiopathic Pulmonary Fibrosis (IPF). FDA’s Orphan Drug Designation program provides certain incentives for companies developing therapeutics to treat rare diseases or conditions, defined as those affecting less than 200,000 individuals in the U.S. A drug candidate and its sponsor must meet several key criteria in order to qualify for, and obtain, orphan drug
Orphan Drugs for Cancer Pipeline Analysis
A huge market opportunity is offered by small patient population which suffers from rare or orphan diseases. Among the category of new orphan drugs, Oncology account for the largest disease group in recent years. It has been observed that majority of the orphan drugs in the clinical stages are for rare cancer disease drugs, and are in the late stages of the pipeline. Some of the drugs are being developed
US Orphan Drug Pipeline Analysis
In recent years, the pharmaceutical industry has been experiencing a paradigm shift. While a large pool of patients was considered as a major source of revenue for pharma companies in the past, the focus is now gradually shifting to small sections of patients suffering from rare disease. In US, this pool of patients is gradually growing and orphan drugs are becoming an extremely attractive business proposition for the pharmaceuticals industry.
Europe Orphan Drugs Pipeline Analysis
“Europe Orphan Drugs Pipeline Analysis” by PNS Pharma gives comprehensive insight on the various drug profiles under Orphan Drugs status in Europe. Research report covers all the ongoing drug development in various phases. Each drug profiles include detailed information like: Originator, Owner, Collaborator, Technology Provider, Licensee, Development Phase, Development Indications, Mechanism of Action, Chemical Formula, Country of Development and detailed analysis on the development process. The information for particular drug
Global Orphan Drug Pipeline Analysis
In recent years, the pharmaceutical industry has been experiencing a paradigm shift. While a large pool of patients was considered as a major source of revenue for pharma companies in the past, the focus is now gradually shifting to small sections of patients suffering from rare disease. In US & Europe, this pool of patients is gradually growing and orphan drugs are becoming an extremely attractive business proposition for the
Global Orphan Drug Clinical Pipeline Insight 2022
“Global Orphan Drug Clinical Pipeline Insight 2022” report gives comprehensive insight on various clinical and non-clinical aspects associated with ongoing clinical trials of 808 orphan designated drugs across the globe. The in-depth clinical insight presented in the report helps the reader to analyze and identify the various stakeholders involved in the clinical development and commercialization of orphan designated drugs in the global market. Currently there are more than 300 orphan